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Calculate monthly savings amount to save enough for a house down payment

In order to buy a house you will (or should) need to make a house down payment. The amount is normally around 20%, but could vary depending on lender and your willingness to sign up for a private mortgage insurance (PMI). Starting with zero in your bank account it can be a hard to save up for the down payment, especially if you account for rising housing prices. Use this calculator to find how much you need to save every month to reach the down payment amount within a certain time frame.

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Calculator results

Savings needed: 52,500
Savings needed adjusted for value appreciation: 65,008
Monthly savings needed to reach goal: 709